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Fees - Financial Advisors

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Comments

  • zagfles
    zagfles Posts: 21,545 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    BritishInvestor said:
    Albermarle said:
    vs reducing fee because someone tries to haggle. 

    Some people like to haggle( and MSE encourages it ) and assume the seller ( IFA or other ) has always something in their back pocket to give away if necessary . So despite your logical arguments , some clients will never be happy if you have non negotiable pricing .

    Yep, accept that, but it seems a bit used car sales to me :)
    Haggling is perfectly normal in the financial services industry. Every year I haggle my car insurance, home insurance, boiler insurance etc down. I haggled a discount on platform fees with HL. Annuities can even be haggled, as we've discussed here.
  • dunstonh
    dunstonh Posts: 120,009 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Albermarle said:
    vs reducing fee because someone tries to haggle. 

    Some people like to haggle( and MSE encourages it ) and assume the seller ( IFA or other ) has always something in their back pocket to give away if necessary . So despite your logical arguments , some clients will never be happy if you have non negotiable pricing .

    The FCA does not like discounting without good reason.  It takes the view that if you can offer one client a certain price then you can offer all clients that price.  However, it does not have an issue with campaigns or justified discounting.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • fred246
    fred246 Posts: 3,620 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    So the FCA forces you to rip everybody off?
  • dunstonh
    dunstonh Posts: 120,009 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 31 August 2020 at 9:44PM
    fred246 said:
    So the FCA forces you to rip everybody off?
    It is an ethical standpoint.   And what evidence do you have that I am ripping everybody off?  That comment is libellous.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • garmeg
    garmeg Posts: 771 Forumite
    500 Posts Name Dropper Photogenic
    dunstonh said:
    fred246 said:
    So the FCA forces you to rip everybody off?
    It is an ethical standpoint.   And what evidence do you have that I am ripping everybody off?  That comment is libellous.

    @dunstonh please do not feed the troll  :)
  • fred246
    fred246 Posts: 3,620 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Post your fees and we can take a look.
  • garmeg
    garmeg Posts: 771 Forumite
    500 Posts Name Dropper Photogenic
    fred246 said:
    Post your fees and we can take a look.
    Why should he / she?

    I havent been here long. In that time I have seen lots of helpful posts from @dunstonh. I havent seen any from you.

    Motley Fool used to have an Ignore Fool option. Pity this site doesnt have one.
  • fred246
    fred246 Posts: 3,620 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    I think you can ignore people on this forum.
  • garmeg
    garmeg Posts: 771 Forumite
    500 Posts Name Dropper Photogenic
    edited 31 August 2020 at 10:26PM
    Yay


  • fred246
    fred246 Posts: 3,620 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    garmeg said:
    fred246 said:
    Post your fees and we can take a look.
    Why should he / she?

    I havent been here long. In that time I have seen lots of helpful posts from @dunstonh. I havent seen any from you.

    Motley Fool used to have an Ignore Fool option. Pity this site doesnt have one.
    There you go. A helpful post. Pity you won't see this message.
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